-- Posted 6 December, 2007 | | Source: SilverSeek.com

The Metals:

Gold fell to see over $10 losses at $784.82 by early trade in London, but it then spiked higher in morning New York trade and remained near its high of $805.60 into the close to end with a gain of 0.51%.  Silver dropped to as low as $13.96 before it spiked to $14.533 and closed with a gain of 0.98%.

Euro gold rose to about €548, platinum lost $3 to $1462, palladium gained $1 to $346, and copper remained at about $3.00.

Gold and silver equities remained near unchanged in morning trade, but they then steadily rose in afternoon trade and ended near their highs with over 2% gains.

The Economy:

President Bush announced today a housing plan that includes freezing rates on some mortgages for five years in an effort to ease problems facing many homeowners.  Tomorrow at 8:30AM EST brings November’s jobs data.  Nonfarm Payrolls are expected at 70,000, the Unemployment Rate is expected at 4.8%, Hourly Earnings are expected at 0.3%, and the Average Workweek is expected at 33.8.  At 10AM is Michigan Sentiment for December expected at 75.0 and at 3PM is Consumer Credit for October expected at $6.0 billion.

The Markets:

Charts Courtesy of http://finance.yahoo.com/

Oil rose over 3% to above $90 after the mortgage plan announcement eased worries about demand.  Natural gas inventories fell a greater than expected 88 billion cubic feet and raised supply concerns.

The U.S. dollar index fell slightly as the Bank of England cut its interest rate and the European Central Bank expressed a hawkish tone and kept rates unchanged.

Treasuries fell on expectations for a strong jobs report tomorrow that would take pressure off of the fed to cut interest rates by a full 50 basis points rather than the widely expected cut of at least 25 basis points.

The Dow, Nasdaq, and S&P rose over 1% on optimism that the President’s housing plan will help solve problems in the credit market.

Among the big names making news in the market today were Coca-Cola, Wal-Mart, MBIA, Florida, Lilly, and IndyMac.

The Commentary:

“February Gold finished up 3.4 at 807.1, 4.4 off the high and 14.1 up from the low.

March Silver closed up 0.165 at 14.625. This was 0.435 up from the low and 0.065 off the high.

CBOT gold closed moderately higher on the day and well up from the early lows as the weaker trend in the dollar (after a strong start to the day) and a surge in energy prices (after a weak start to the day) helped support renewed confidence in gold. Speculative buying turned more active as the stock market is signaling that world economies can remain strong while strength in raw commodities suggests that inflation may not die as easy as many traders have anticipated.

March silver followed gold lower in the early action but managed to close sharply higher on the day. Strength in the euro, ideas that India and even China investor demand will continue to firm and talk that precious metals may be seen as a good alternative to other investments into 2008 helped support to aggressive buying. The ECB president warning of strong upward pressure on inflation and renewed strength in base industrial metals added to the positive tone.”- The Hightower Report, Futures Analysis and Forecasting

GATA Posts:

Subprime lenders said to agree to five-year rate freeze

Fed may couple rate cut with credit increases

The Statistics:

As of close of business: 12/5/2007

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

Note: Change in Total Tonnes from yesterday’s data: The LSE subtracted 0.49 tonnes, the ASX added 0.21 tonnes, and the JSE added 0.25 tonnes.

COMEX Gold Trust (IAU)

Note: No change in Total Tonnes from yesterday’s data.

Silver Trust (SLV)

Note: No change in Total Tonnes from yesterday’s data.

The Stocks:

Almaden’s (AAU) optioned project to Apex Silver (SIL), Tanzanian Royalty’s (TRE) negotiations, Golden Star’s (GSS) approved listing on the Ghana Stock Exchange, Seabridge’s (SA) Preliminary Assessment underway, Anatolia’s (ANO.TO) drilling, Allied Nevada’s (ANV) drill results, Gold Fields’ (GFI) killed worker, Minefinders’ (MFN) drill results, Southern Silver’s (SSV.V) drilling, and Silver Dragon’s (SDRG.OB) board appointment were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

All of today's gold and silver stock news:

American Uranium Mining Announces 2008 Strategic Plan - More
- December 06, 2007 | Item | E-mail

Coro Announces Drilling Results for Celeste Property in Northern Chile - More
- December 06, 2007 | Item | E-mail

Western Troy Grants Options - More
- December 06, 2007 | Item | E-mail

Stellar closes the first and second tranches of a private placement - More
- December 06, 2007 | Item | E-mail

Probe Mines Limited Completes High Resolution Airborne Survey on the McFauld's West Property, James Bay Lowlands, Ontario - More
- December 06, 2007 | Item | E-mail

CGW announces 5 million dollar private placement - More
- December 06, 2007 | Item | E-mail

Orex Closes Second Private Placement With Mineralfields for Phase 2 Exploration at Goldboro - More
- December 06, 2007 | Item | E-mail

Houston Lake Signs 5,000 Metre Drill Contract to Initiate Exploration Programs at West Cedartree - More
- December 06, 2007 | Item | E-mail

Hochschild Mining plc to acquire additional stake in EXMIN Resources Inc. - More
- December 06, 2007 | Item | E-mail

Goldcliff Acquires More Uranium Properties in British Columbia - More
- December 06, 2007 | Item | E-mail

Breakwater Provides Update On Its Mochito Mine - More
- December 06, 2007 | Item | E-mail

Ucore Announces Start Up of Diamond Drill Program at Lost Pond, Newfoundland - More
- December 06, 2007 | Item | E-mail

Almaden Options Matehuapil Project, Mexico to Apex Silver - "Almaden Minerals Ltd. (Toronto:AMM.TO - News)(AMEX:AAU - News) ("Almaden") is pleased to announce that it has optioned its 100% owned (subject to a 1% NSR to the Mexican government) Matehuapil silver-lead-zinc project in Mexico to Apex Silver (AMEX:SIL - News). Apex Silver can earn a 60% interest in the project from Almaden by spending US$2.6 M and by making cash payments to Almaden of roughly C$307,000 (3,312,000 pesos) over 6 years. Apex Silver is committed to spend US$150,000 in the first 18 months and will make an initial payment of roughly C$122,000 (1,324,800 pesos) to Almaden." More
- December 06, 2007 | Item | E-mail

Teihsum River Gold Project drill program commences - More
- December 06, 2007 | Item | E-mail

Benton Resources Corp. (BTC) Acquires New Ni-Cu Property - More
- December 06, 2007 | Item | E-mail

Drill Results Are Promising at Minefinders' Real Viejo Project, Northern Sonora, Mexico - "Minefinders Corporation Ltd. (the "Company") (Toronto:MFL.TO - News)(AMEX:MFN - News) reports that final assays have been received from the 2007 drill program completed on its 100% owned Real Viejo prospect, located in northern Sonora, Mexico. The program encountered highly encouraging silver and base metal mineralization, expanded the known resource within the project area, and significantly increased the overall potential of the project." More
- December 06, 2007 | Item | E-mail

Scowcroft Group to Assist Tanzanian Royalty with Negotiations - "Tanzanian Royalty is pleased to announce that The Scowcroft Group has agreed to assist the Company in regard to identifying and negotiating partnership arrangements with qualified third parties for its gold and base metal exploration assets in the Republic of Tanzania." More
- December 06, 2007 | Item | E-mail

Atomic provides progress update on drilling program on Dolores Anticline, Colorado - More
- December 06, 2007 | Item | E-mail

Etruscan hits high grade in satellite discoveries at Agbaou - More
- December 06, 2007 | Item | E-mail

Palladon Announces Iron Mountain Project Update - More
- December 06, 2007 | Item | E-mail

Katanga Mails Information Circular and Offering Circular for Nikanor Merger - More
- December 06, 2007 | Item | E-mail

Drilling extends the Finn Zone to depth and to the southwest - More
- December 06, 2007 | Item | E-mail

Spirit Exploration Inc. Comments on Ecuador's More Favorable Mining Policy and Updates Investment Community - More
- December 06, 2007 | Item | E-mail

Allied Energy Corporation Reports on Recent Visit to Zambia - More
- December 06, 2007 | Item | E-mail

Sample Analysis Continues to Return High Grade Silver-Copper Mineralization on First Narrows' Barite Stockwork Zone Discovery - More
- December 06, 2007 | Item | E-mail

Inspiration Intersects 2.059% Ni Over 11.17m or 36.65ft Containing 7.401% Ni Over 2.75m or 9.02ft With 10.740% Ni Over 0.68m or 2.22ft (True Width) - More
- December 06, 2007 | Item | E-mail

CityViews' Restructuring of Longonjo & Ucua - More
- December 06, 2007 | Item | E-mail

Silver Falcon Mining, Inc. (SFMI): Near-Surface Drilling Results Show Vast Zone of Mineralization - More
- December 06, 2007 | Item | E-mail

Gold Resource Corporation Closes $21.6 Million Private Placement; Funding to Build El Aguila Project - More
- December 06, 2007 | Item | E-mail

Alexco Finalizes Purchase of Keno Hill, Focuses on Bellekeno Development - More
- December 06, 2007 | Item | E-mail

Murgor Resources announces closing of $1.6 million private placement - More
- December 06, 2007 | Item | E-mail

Medallion Acquires Lodi Hills, Nevada Gold-Exploration Property - More
- December 06, 2007 | Item | E-mail

EXMIN Announces Strategic Alliance Private Placement - More
- December 06, 2007 | Item | E-mail

Mediterranean to start trading on the Toronto Stock Exchange on December 10, 2007 - More
- December 06, 2007 | Item | E-mail

Crosshair Extends C Zone to Northeast by Intersecting 0.10% U3O8 Over 18.3 Metres - More
- December 06, 2007 | Item | E-mail

Adventure Gold Signs a Letter of Intent to Acquire the Past Producing Lucien Beliveau Mine - Near the Producing Beaufor Gold Mine in the Val D'Or Region - More
- December 06, 2007 | Item | E-mail

Mantis Uncovers Historical Data Illustrating High Grades at Depth at The Orphan Mine, Adjacent to Kodiak Exploration - More
- December 06, 2007 | Item | E-mail

Diamond Drill Mobilized to Evaluate High Priority Ni-Cu-PGE Targets Near Noront Discovery - More
- December 06, 2007 | Item | E-mail

Purepoint Uranium Group Inc.: Red Willow Structure Proves a Close Match to Eagle Point - More
- December 06, 2007 | Item | E-mail

Uranium 308 Corp.: SGS Group Lab Analysis of Second Batch of Janchivlan Channeling Samples Indicates Highest Uranium Concentrations Observed to Date - More
- December 06, 2007 | Item | E-mail

Anglo Swiss Resources Inc. Provides Overview of Recently Completed Kenville Diamond Drill Program - More
- December 06, 2007 | Item | E-mail

First Quantum Minerals Acquires 17.27% Interest in Equinox Minerals Limited - More
- December 06, 2007 | Item | E-mail

Jourdan Resources Inc.: Two Drill Holes Completed and New Surface Sampling Assay Results in the Wakeham Sedimentary Basin - More
- December 06, 2007 | Item | E-mail

Sable continues to intersect high grade mineralization underground - More
- December 06, 2007 | Item | E-mail

Advanced Explorations Inc. and Melville Capital Corporation Form Strategic Partnership Which Includes Up to $65,000,000 in Financing - More
- December 06, 2007 | Item | E-mail

Virgin Metals Announces Final Diamond Drill Results from Los Verdes - More
- December 06, 2007 | Item | E-mail

Ascendant Copper Intersects Significant Copper and Molybdenum Mineralization at Chaucha Project in Ecuador - More
- December 06, 2007 | Item | E-mail

Manicouagan Reports Additional Results From Brabant Lake Including-10.67% Zinc Over 3.91 Metres in the Lower Zone and 4.21% Lead and 142.17 g/t Silver - More
- December 06, 2007 | Item | E-mail

Consolidated Spire Ventures Announces It Has Received Analytical Results For First Four Drill Holes - More
- December 06, 2007 | Item | E-mail

Romania moves to block Canadian gold mine project - More
- December 06, 2007 | Item | E-mail

General Metals Phase 1 Drilling Expands New Mineralization and Encounters a Second New Mineralized Zone at Wilson Independence - More
- December 06, 2007 | Item | E-mail

Alamos Gold Inc. Provides Operations Update - More
- December 06, 2007 | Item | E-mail

International Ranger Corp.: Eight Hole Drill Program to Commence on Its Whiskey Gap Project - More
- December 06, 2007 | Item | E-mail

Preliminary Assessment Underway for Seabridge Gold's KSM Project - More
- December 06, 2007 | Item | E-mail

CZM Obtains up to 1.14g/t Gold from Soil Geochemical Survey on TAG Project, B.C. - More
- December 06, 2007 | Item | E-mail

Bolivar Mining Corp Announces the Addition of Chief of Engineering, Exploration and Mining - More
- December 06, 2007 | Item | E-mail

Scorpio Gold Corporation and BacTech Mining Corporation Seek Shareholder Approval to Merger - More
- December 06, 2007 | Item | E-mail

Independent Nickel Files Positive Lynn Lake Pre-Feasibility Study - More
- December 06, 2007 | Item | E-mail

Magnus International Resources Prepares for the Start of a 5,000 Meter Drilling Program in Uganda - More
- December 06, 2007 | Item | E-mail

Galway Resources reports positive results from its infill drilling program at the Indian Springs open-pittable tungsten project - More
- December 06, 2007 | Item | E-mail

Stretched judiciary hampers mine prosecutions-govt - "An overstretched judiciary is hampering attempts to prosecute those responsible for mining accidents, South Africa's minerals and energy minister said on Thursday." More
- December 06, 2007 | Item | E-mail

Utah Uranium Completes First 10 Holes, Additional Drilling Being Permitted - More
- December 06, 2007 | Item | E-mail

Gemini Explorations Commences Modernization of the Los Chorros Gold Mine - More
- December 06, 2007 | Item | E-mail

South Africa Cuts Proposed Royalties on Metals, Oil - "South Africa, the world's largest producer of gold and platinum, cut proposed taxes on mining revenue to take account of processing and transport costs.

An average 2.7 percent royalty on platinum-group metal sales was proposed in the third draft of a mining bill released for comment today compared with 4.5 percent previously. The bill also proposes that mining companies pay a 2.1 percent average royalty on sales of gold, compared with 2.25 percent in the earlier draft, the Treasury said an e-mailed statement." More
- December 06, 2007 | Item | E-mail

Bannerman Resources Limited Intercepts 0.0389% eU3O8 Over 235 Metres at Goanikontes - More
- December 06, 2007 | Item | E-mail

Golden Star Completes Approvals for Ghana Stock Exchange Listing - "Golden Star Resources Ltd. (AMEX: GSS - News)(TSX: GSC - News) (“Golden Star”) today announced that it had completed the necessary approvals to commence its offer to list shares on the Ghana Stock Exchange. Golden Star also announced the appointment of Mr. Nigel Tamlyn as General Manager of its Bogoso/Prestea mine." More
- December 06, 2007 | Item | E-mail

Southern Silver to Begin Drilling in Southern Arizona; Completes Project Acquisition and Plans 2008 Drill Program in New Mexico - "Southern Silver Exploration Corporation (TSX VENTURE:SSV - News; FRANKFURT:SEG - News) reported today that State permits have been received and crews have been mobilized for the start of a +5,000 metre diamond drill program on its southern Arizona and New Mexico gold/silver/copper projects. Drilling is expected to commence in the second week of December and continue into the next quarter of 2008. The company also continues its drilling program at its extensive Minas de Ameca project in Jalisco State, Mexico." More
- December 06, 2007 | Item | E-mail

Silver Dragon Appoints R. Glen MacMullin to Board of Directors - "Silver Dragon Resources Inc. (OTC BB:SDRG.OB - News) is pleased to announce the appointment of R. Glen MacMullin to the Company's Board of Directors. Mr. MacMullin is an independent board member in accordance with U.S. and Canadian corporate governance and securities requirements. As a result of Mr. MacMullin's appointment, Silver Dragon's current Board of Directors is made up of three executives and two independents, for a total of five members." More
- December 06, 2007 | Item | E-mail

Preliminary Assessment Underway for Seabridge Gold's KSM Project - "Seabridge Gold (TSX VENTURE:SEA - News; AMEX:SA - News) announced today that it has assembled a team of independent consultants to prepare a National Instrument 43-101Preliminary Assessment for its 100% owned Kerr-Sulphurets-Mitchell ("KSM") project located near Stewart, British Columbia, Canada. The Preliminary Assessment will establish a project development scenario for KSM including preliminary capital and operating cost estimates. The study is expected to be completed by the end of 2008." More
- December 06, 2007 | Item | E-mail

Anatolia Exploration & Infill Drill Results at Copler - "Anatolia is presently compiling the results of its 2007 drilling program and expects to complete an update of its reserves and resources by late 1st quarter 2008. In 2007 we drilled 32,699 meters, of which 126 were reverse-circulation holes and 70 were diamond drill holes. Given the disseminated nature of the deposit, these intercepts are considered true widths. 'Grams per tonne' is shortened to 'gpt' in the table below:" More
- December 06, 2007 | Item | E-mail

Allied Nevada Updates Hycroft Project Drill Results and Plans for Expansion of Drill Program - "Allied Nevada Gold Corp. ("Allied Nevada" or the "Company") (Toronto:ANV.TO - News)(AMEX:ANV - News) is pleased to announce complete gold and silver assay results for seven exploration drill holes (3073, 3077, 3084, 3085, 3088, 3090, 3091, and silver assays only for HY-06-01), drilled at the Company's Hycroft Heap Leach Mine ("Hycroft") located near Winnemucca, Nevada." More
- December 06, 2007 | Item | E-mail

Gold Fields says worker killed at Kloof mine - "Gold Fields (GFIJ.J: Quote, Profile, Research) said on Thursday a worker was killed in a rock-fall at its Kloof mine in South Africa, just two days after the country's biggest miners' union staged a 24-hour strike to protest against mining deaths." More
- December 06, 2007 | Item | E-mail

- Chris Mullen, Gold Seeker Report

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